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- PCI Comments on Congressional Action to Avoid a Lapse in NFIP
WASHINGTON — Nat Wienecke, senior vice president of federal government relations at the Property Casualty Insurers Association of America (PCI) issued the following statement:
“PCI is pleased that Congress averted a lapse and passed legislation to continue the National Flood Insurance Program. However, this short duration is very concerning.
“Consumers and businesses need a reliable program that provides long-term access to flood insurance. Many Americans are in the process of rebuilding following the historic flooding brought on by the recent hurricanes. A long-term reauthorization will provide consumers with the certainty of knowing their claims will be processed promptly.
“We urge Congress to pass a long-term bill that will provide more consumer options and greater financial stability to the NFIP.”
- PCI promotes and protects the viability of a competitive private insurance market for the benefit of consumers and insurers. PCI is composed of nearly 1,000 member companies, representing the broadest cross section of insurers of any national trade association. PCI members write $220 billion in annual premium, 37 percent of the nation's property casualty insurance. Member companies write 44 percent of the U.S. automobile insurance market, 30 percent of the homeowners market, 35 percent of the commercial property and liability market and 37 percent of the private workers compensation market.
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